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Ex-VeloNews Execs Launch Venture Fund

BOULDER, CO (BRAIN)—Three former executives at VeloNews have launched a venture capital fund looking to buy small, enthusiast-based businesses or information-related product and service companies.

The three include Felix Magowan, co-founder and former CEO of Inside Communications which owned VeloNews; Greg Thomas, formerly chief operating officer at VeloNews; and Andy Pemberton, VeloNews’ former publisher.

The three executives left the company after its purchase by the Competitor Group in March 2008. The company, formally launched this month, has offices in Boulder.

Their fund, Pocket Ventures LLC, is looking for opportunities to buy companies in the $2 million to $25 million range. “We seek acquisition candidates that have not reached their growth and product potential. Our interest is in acquiring companies that have not fully capitalized on digital distribution, ancillary business expansion or operational management,” the company said.